742 Results for:

December 11, 2004

United States
The Global Test

My harping on the fact that US economic policy now has to pass a global test is not simply meant to score rhetorical points. I suspect that the same folks who financed the expansion of the US curren…

March 9, 2005

United States
HBO History Makers Series: Paul O'Neill

Council on Foreign Relations New York, N.Y. [Note: the transcript begins in progress] PAUL O'NEILL: --Citizens in an enlightened society need to understand that they've not only got to provide…

March 22, 2005

Financial Markets
The $1.3 billion question: What will happen to the renminbi

A week in China certainly does not make me an expert. Like many, I see China through the filter of English-speaking Chinese economists, and, to more precise, through the filter of those economists a…

March 9, 2005

Monetary Policy
Reserve accumulation and the financing of the February US trade deficit

The dollar is under a bit of pressure today. The renminbi keeps falling too. The logic behind China’s tight peg to the dollar continues to elude me. The US dollar needs to depreciate as part of an…

February 24, 2005

Monetary Policy
An Asian OPEC?

A less kind headline might be "Asian policy makers meet, agree to continue manipulating foreign exchange markets" Still, this Bloomberg article (link thanks to Calculated Risk) suggests that there ma…

July 18, 2005

United States
The May TIC data

Sorry about the unimaginative headline.I guess the TIC data was sort of blah. Net inflows were not as strong as in January or February, nor as weak as in March and April.One thing I don’t understand…

December 8, 2004

Budget, Debt, and Deficits
The central bank bid

It seems like America’s biggest creditors stepped up to the plate today. China’s rapidly growing reserves have to go somewhere ... From Bloomberg:"So-called indirect bidders, which include the forei…

July 11, 2005

China
China posts a $9.7 (call it 10) billion trade surplus in June

The $10 billion monthly surplus in June puts China on track for an annual trade surplus of $100 billion or more.The data brought China’s trade surplus for the first half of the year to $39.65bn, alre…

February 22, 2005

Monetary Policy
Korea, enough said

It looks the remarks of Korea’s Central Bank President last week were a leading indicator of today’s big news: Korea plans to diversify its reserves away from the dollar! Bloomberg is right: the rea…

August 11, 2005

China
China’s economy in 2005 is not what it was in 2000

China always has depended on export-led growth.   It is a core reason why China has been so successful.  China is just trying to hold on to the core of its success in the face of political pressure f…

Exports to GDP